In addition to the leadership change, the company has entered into amended employment agreements with two key executives: Robert A. Berman, the President and CEO, and Joseph Nalepa, the Chief Financial Officer. The amended agreement with Berman, effective March 20, 2026, extends his employment term through June 30, 2028, with provisions for automatic one-year renewals unless either party provides a 90-day notice of non-renewal. Berman's annual base salary is set at $395,000, and he is eligible for performance bonuses at the discretion of the Board. Furthermore, he will receive a one-time stock grant of 1,000,000 shares, fully vested upon grant.
Similarly, Nalepa's employment agreement, effective November 17, 2025, also extends through June 30, 2028, with provisions for annual renewals. His base salary is established at $260,000, with eligibility for discretionary bonuses based on performance metrics agreed upon with the Board's Compensation Committee. Notably, Nalepa is set to receive an initial bonus of $75,000, contingent upon the timely filing of the company's 10-K report for the 2025 fiscal year.
These changes reflect Rekor's commitment to maintaining strong leadership and operational continuity as it navigates its growth trajectory in the technology sector. The company aims to leverage the expertise of its executives to enhance its strategic initiatives and drive innovation in its offerings.
